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完整後設資料紀錄
DC 欄位 | 值 | 語言 |
---|---|---|
dc.contributor.advisor | 王衍智 | |
dc.contributor.author | Yi-Min Wang | en |
dc.contributor.author | 王怡敏 | zh_TW |
dc.date.accessioned | 2021-06-17T00:51:42Z | - |
dc.date.available | 2021-02-10 | |
dc.date.copyright | 2020-02-10 | |
dc.date.issued | 2019 | |
dc.date.submitted | 2020-02-04 | |
dc.identifier.citation | 英文文獻
1. Bank, M., Larch, M., & Peter, G. (2011). Google search volume and its influence on liquidity and returns of German stocks. Financial Markets and Portfolio Management, 25(3), 239. 2. Bhagat, S., & Bolton, B. (2008). Corporate governance and firm performance. Journal of Corporate Finance, 14(3), 257-273. 3. Botosan, C. A. (1997). Disclosure level and the cost of equity capital. Accounting Review, 323-349. 4. Brick, I. E., Palmon, O., & Wald, J. K. (2006). CEO compensation, director compensation, and firm performance: Evidence of cronyism? Journal of Corporate Finance, 12(3), 403-423. 5. Carter, D. A., Simkins, B. J., & Simpson, W. G. (2003). Corporate governance, board diversity, and firm value. Financial review, 38(1), 33-53. 6. Core, J. E., Holthausen, R. W., & Larcker, D. F. (1999). Corporate governance, chief executive officer compensation, and firm performance. Journal of Financial Economics, 51(3), 371-406. 7. Gibbons, R., & Murphy, K. J. (1992). Optimal incentive contracts in the presence of career concerns: Theory and evidence. Journal of Political Economy, 100(3), 468-505. 8. Hamilton, J. T., & Zeckhauser, R. (2004). Media coverage of CEOs: who? what? where? when? why?. Unpublished Working Paper, Stanford Institute of International Studies. 9. Lang, L. H., & Stulz, R. M. (1994). Tobin's q, corporate diversification, and firm performance. Journal of Political Economy, 102(6), 1248-1280. 10. Meschke, F. (2003). CEO interviews on CNBC. AFA 2003 Washington, DC Meetings. 11. Morck, R., Shleifer, A., & Vishny, R. W. (1988). Management ownership and market valuation: An empirical analysis. Journal of Financial Economics, 20, 293-315. 12. Nguyen, B. D. (2015). Is more news good news? Media coverage of CEOs, firm value, and rent extraction. Quarterly Journal of Finance, 5(04), 1550020. 13. Rubin, A., & Rubin, E. (2010). Informed investors and the internet. Journal of Business Finance & Accounting, 37(7‐8), 841-865. 14. Rupley, K. H., Brown, D., & Marshall, R. S. (2012). Governance, media and the quality of environmental disclosure. Journal of Accounting and Public Policy, 31(6), 610-640. 15. Switzer, L. N. (2007). Corporate governance, Sarbanes-Oxley, and small-cap firm performance. The Quarterly Review of Economics and Finance, 47(5), 651-666. 16. Xu, S. X., & Zhang, X. (2013). Impact of Wikipedia on market information environment: Evidence on management disclosure and investor reaction. MIS Quarterly, 1043-1068. 中文文獻 1. 呂倩如, 以穩健估計及長期資料分析觀點探討資本資產定價模型, 2002 2. 李幃宗, 資訊透明度、公司治理對公司經營績效之探討, 2008 | |
dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/66693 | - |
dc.description.abstract | 資訊透明及曝光度是影響企業營運的重要因素之一,在眾多降低資訊不對稱的方式中,網路媒體扮演重要的媒介,過去亦有許多研究,探討媒體資訊揭露對公司績效及股價表現的影響。本篇研究以標準普爾1500指數之上市公司作為實證研究,分析非傳統媒體維基百科(Wikipedia)之CEO資訊揭露,對公司經營績效(ROA)的影響,利用普通最小平方法,及固定效應模型,探討公司執行長(Chief Executive Officer ,CEO)於任職年間,隨著CEO之資訊揭露更加透明,是否影響市場對該公司的投資決策,進而提升公司營運績效。有別於過往文獻多以探討傳統媒體資訊揭露對公司的影響,本研究主要透過非傳統媒體Wikipedia的歷史修改紀錄,衡量資訊揭露程度。
實證結果顯示,CEO於Wikipedia之資訊揭露程度與公司經營績效為顯著正相關,Wikipedia資訊揭露對於公司存在監督效果,有助於降低代理問成本,使公司擁有較高績效表現。另外,研究亦針對不同規模以及產業進行個別分析,發現無論大公司或小公司,Wikipedia之CEO資訊揭露皆對公司績效擁有顯著影響;然以產業分群則發現,部分產業類別樣本之分析結果為不顯著,推論與樣本特性有關。 | zh_TW |
dc.description.abstract | Information transparency plays an important role on corporate performance. There are many ways to reduce the degree of information asymmetry, such as analyst report, traditional media and online media. Under this perspective, many scholars have discussed the relationship between corporate performance and information disclosure on media. The purpose of this study is to investigate the influence of the information disclosure of social media on the corporate performance by using a sample of firms in S&P1500 between 2004 to 2017. In comparison of the past literature, this study was aim to test the impact on information disclosure of nontraditional media, and we use the historical record on Wikipedia to measure information transparency. The information disclosure index in this study is constructed upon Wikipedia historical record, and then the analysis of the relationship between information disclosure and corporate performance is performed, in which I measure the corporate performance by return on asset (ROA).
The main empirical results show that there is a positive relationship between level of information disclosure and corporate performance. The information disclosure on Wikipedia makes supervisory effectiveness be more strong, reducing the degree of information asymmetry and improving corporate performance. In addition, this study adopts the cluster regression model based on industry category and the assets of company. The results show that the information disclosure indicates a positive relationship with corporate performance under both big and small companies. As for sample clustering by industry categories, the results of regression show that there is positive relationship between the information disclosure variables and corporate performance in certain industries, we presume the result caused by the characteristics of sample. | en |
dc.description.provenance | Made available in DSpace on 2021-06-17T00:51:42Z (GMT). No. of bitstreams: 1 ntu-108-R06723044-1.pdf: 1945599 bytes, checksum: 56cc032d218fa2422b7fd914fe850520 (MD5) Previous issue date: 2019 | en |
dc.description.tableofcontents | 口試委員會審定書 i
誌謝 ii 摘要 iii Abstract iv 第一章 緒論 1 第一節 研究動機與目的 1 第二節 研究架構與流程 3 第二章 文獻探討與假說建立 3 第一節 資訊揭露與公司價值相關文獻探討 3 第二節 CEO資訊揭露與影響之相關研究 4 第三節 假說建立 5 第三章 研究方法及樣本 6 第一節 實證模型與變數衡量 6 第二節 樣本選取與資料來源 8 第三節 網路爬蟲資料抓取流程 8 第四節 樣本統計敘述與相關係數 10 第四章 實證結果與分析 12 第一節 公司經營績效與Wikipedia之CEO資訊揭露關係 12 第二節 產業平減之公司經營績效迴歸模型結果 14 第三節 穩健迴歸模型結果 14 第四節 字數與所有變數之簡單迴歸分析 15 第五節 規模分群模型之迴歸結果 15 第六節 年度分群模型之迴歸結果 16 第七節 產業分群模型之迴歸結果 16 第八節 赫芬達指數分群模型之迴歸結果 17 第五章 結論與建議 18 第一節 研究結論 18 第二節 研究建議 19 第三節 研究限制 19 參考文獻 20 | |
dc.language.iso | zh-TW | |
dc.title | 公司執行長資訊揭露程度對營運績效的影響 | zh_TW |
dc.title | How Does CEO Information Disclosure Level Affect Corporate Performance | en |
dc.type | Thesis | |
dc.date.schoolyear | 108-1 | |
dc.description.degree | 碩士 | |
dc.contributor.oralexamcommittee | 陳彥行,張景宏 | |
dc.subject.keyword | 標準普爾1500指數,執行長,資訊揭露,維基百科,經營績效,社群媒體, | zh_TW |
dc.subject.keyword | S&P1500,Information disclosure,CEO,Wikipedia,Corporate performance,Social media, | en |
dc.relation.page | 40 | |
dc.identifier.doi | 10.6342/NTU202000290 | |
dc.rights.note | 有償授權 | |
dc.date.accepted | 2020-02-04 | |
dc.contributor.author-college | 管理學院 | zh_TW |
dc.contributor.author-dept | 財務金融學研究所 | zh_TW |
顯示於系所單位: | 財務金融學系 |
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